Does Retirement Induced through Social Security Pension Eligibility Influence Subjective Well-being? A Cross-Country Comparison

摘要: How does retirement influence subjective well-being? Some studies suggest not affect well-being or may improve it. Others it adversely affects This paper aims at advancing our understanding of the effect on by (1) using longitudinal data to tease out from age and cohort differences; (2) instrumental variables address potential reverse causation decisions; (3) conducting cross-country analyses, exploiting differences in eligibility ages for benefits across countries within countries. We use panel US Health Retirement Study Survey Health, Ageing, Europe. allows us a quasi-experimental approach where variations public pension due country specific help identify effects. For both U.S. Europe we find that is associated with higher levels depression. However, when opposite result. induced through Social Security found have positive effect, reducing depression symptoms, although only marginally significant considering indicator. life satisfaction measures either